Financial Conduct Authority (FCA) Fee Funding

FAQ

Frequently Asked Questions


Making An Application

Please contact the FCA by emailing FCAfees@fca.org.uk for further information on how to obtain your invoice. Alternatively, you can contact the FCA on their dedicated Fees Helpline: 0300 500 0597.
Please note, the FCA are unable to answer questions about your Credit Agreement with Premium Credit and Premium Credit are unable to answer questions about your regulatory fees and levies.

If the 10 month repayment option is not suitable, we do have other options available. Please contact us on FCA.Feefunding@pcl.co.uk or 0344 381 9103 (Option 2) to discuss your options with one of our FCA Fee Funding team.

Yes; if you are renewing your Credit Agreement for FCA Fee Funding we require you to complete a full application on our website http://www.fca.pcl.co.uk .

No, in making your application you agree that Premium Credit will not be held responsible for any fines or penalties in connection with late payment of any fees and/or levies due from you to the FCA.
Please note, if we receive an application inside 14 days before the payment due date stated on your invoice we will still process your application and begin collections. However, you may incur a late payment fee from the FCA.

If your invoice due date is sooner than 14 days from the date you are applying, you can still make an application to us. We are able to fund the FCA sooner than 14 days; if this is something you would like to discuss, please contact us on FCA.Feefunding@pcl.co.uk or 0344 381 9103 (Option 2).
For any concerns regarding late payment charges to the FCA, you can contact your account handler at the FCA on 0300 500 0597 or alternatively you can email them at FCAfees@fca.org.uk.

To enter the date into a required field please use the calendar icon located immediately to the right of the field you are attempting to complete. This will bring up an electronic calendar where you can select the date required.

If you have signed a Credit Agreement since 1st July 2013 then a new Credit Agreement is not posted out, as we do not require a signature.
We will issue a welcome letter to confirm when the payments are due.

If we have requested that you sign and return a Credit Agreement to us and it has not been received within 14 days, this may delay Premium Credit funding the FCA for your fees.
Please note, if funding is delayed to the FCA beyond your payment due date, you may receive a late payment charge from the FCA.

Your first payment will be collected within 10 working days after your application is accepted, and subsequent payments will be due on the monthly anniversary of your application being accepted. Once accepted we will write to you to confirm your payment dates.

For over 15 years, Premium Credit has provided firms with the opportunity to finance the cost of their regulated fees and levies invoiced by the FCA, Money Helper, Financial Ombudsman Service (FOS), Financial Services Compensation Scheme (FSCS) and Prudential Regulation Authority (PRA) over monthly repayments.

We fund the FCA 14 days from the date your Credit Agreement is approved.
Please note, for funds to be released, we also require a signed copy of your Credit Agreement (where applicable) and receipt of the first Direct Debit.

The company registration number field requires 8 digits - place leading zeros in front of your company registration number until it is 8 digits in length.

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To make an application to Premium Credit for FCA Fee Funding please visit our website http://www.fca.pcl.co.uk .
The FCA Fee Funding scheme is open for applications.

Premium Credit must receive your application at least 14 calendar days before the payment due date stated on your invoice, this enables us to pay the FCA on time.
Please note, if we receive an application inside the 14 calendar days before the payment due date stated on your invoice we will still process your application and begin collections. However, you may incur a late payment fee from the FCA.
We do offer reduced repayment terms, however, these would come with an increase in the transaction fee percentage. If you would like to find out more about our additional repayment terms, please contact our FCA team on 0344 381 9103 or email us at: FCA.feefunding@pcl.co.uk

The FCA Fee Funding Scheme enables FCA regulated firms to apply to finance the cost of their periodic regulatory fees and levies. If this application is successful, we will pay the FCA your full invoiced amount and collect repayments from you by Direct Debit.


Making A Payment

If your payment should reject at your bank, we will normally reapply to your account between 6-8 working days later along with any applicable default charge. If our second attempt should also reject, you will need to contact us to arrange a card payment for your missed payment.

We will write to you to advise by when your payment is required to avoid cancellation of your transaction. Should you fail to pay your missed payment in time, we will cancel your transaction with us and pursue you for the outstanding balance and any charges you may have incurred.

Please note if this is your only remaining transaction under your Credit Agreement with us, then we may also terminate your Credit Agreement. If your payment should reject due to an issue with your Direct Debit mandate, we may not reapply for payment. In this instance, we will write to you requesting you contact us to make a payment and rectify the issue. Our letter will confirm by what date this action needs to be completed.

If you are struggling to meet your repayments please contact 0344 381 9103 or email credit.control@pcl.co.uk . Our credit control team will provide you with guidance on what to do next, including any contact details for free external advice (for example, Money Helper or Citizens Advice Bureau).

Our standard repayment option equates to 10 Direct Debit collections. This includes a facility fee collected along with the first repayment, which is proportional to the amount you borrow.
We do offer other monthly repayment options and if you would like to discuss these, please contact our team on 0344 381 9103 or alternatively, you can email us at: FCA.feefunding@pcl.co.uk

If you have applied for FCA fee funding, but have received a letter stating the FCA have not been paid, we may still require outstanding documentation.
Please contact us on 0344 381 9103 (option 2) for further information.

If you are struggling to make payments then please contact us on 0344 381 9103 or email credit.control@pcl.co.uk . Our credit control team will provide you with guidance on what to do next, including any contact details for external free advice (for example, Money Helper or Citizens Advice Bureau).

Cancelling a Direct Debit will not always cancel your Credit Agreement, but may result in a default charge for missed payments. Please contact us by emailing credit.control@pcl.co.uk or by calling 0344 381 9103.

If you are unable to make a payment on your scheduled payment date, please call us on 0344 381 9103 to discuss your options.
If you are struggling to make your repayments please contact us on the number above or email credit.control@pcl.co.uk .
Our credit control team will provide you with guidance on what to do next, including any contact details for free external advice (for example, the Money Helper or Citizens Advice Bureau).

Premium Credit are required to advise your bank 3 working days in advance of a payment date. Once we have advised them of this we are unable to stop the attempt for payment.

If a payment has been rejected by Direct Debit and you would like to bring it up to date, or you would like to settle the balance on your Credit Agreement, please call 0344 381 9103 as soon as possible to arrange your payment.

The Facility Fee is a fee that is applied for arranging the transaction. This fee is collected with your first repayment, and is proportional to the amount you borrow.

If you are a private individual you will receive a £27.50 charge for a missed Direct Debit.
If you are a Limited company or Limited Liability Partnership you will be charged £85.00 per failed attempt.


My Agreement

If you would like a copy of your Credit Agreement, please email FCA.Feefunding@pcl.co.uk quoting your Premium Credit reference number and we will send one to you.

If your Credit Agreement is regulated by the Consumer Credit Act 1974 then you have a statutory right to withdraw from your Credit Agreement at no charge (but you will have to repay any credit provided, if already funded) within 14 days. This 14 day period starts from the day after the day we send you a letter to confirm that your Credit Agreement has been executed (this means we have counter-signed the Credit Agreement).
If you have any questions or if you would like to withdraw, call us on 0344 381 9103 or please email fca.admin@PCL.co.uk .
You can also write to us at:
The Operations Centre, Premium Credit Limited, Ermyn House, Ermyn Way, Leatherhead, Surrey, KT22 8UX

Please email fca.admin@PCL.co.uk to request a cancellation of your Credit Agreement.
Please note if we have funded your periodic fees and levies to the FCA then you will need to immediately pay us the Outstanding Balance if you wish to cancel.

If you have recently signed and returned your Credit Agreement to us, our letters may have crossed in the post. If so, you can ignore the letter.
Alternatively, you can email the signed Credit Agreement to creditagreements@pcl.co.uk .

You can return your signed Credit Agreement by emailing a PDF copy to creditagreements@pcl.co.uk
You can also return it by post to: The Operations Centre, Premium Credit Limited, Ermyn House, Ermyn Way, Leatherhead, Surrey, KT22 8UX

If you change your mind and no longer wish to finance your FCA periodic fees and levies with Premium Credit, please email fca.admin@PCL.co.uk to inform us.
Please note, if we have funded your periodic fees and levies to the FCA then you will need to immediately pay us the Outstanding Balance if you wish to cancel. For more information on whether you can exercise the right to withdraw at no charge (but you will have to repay the credit for the principal amount, if funded) please contact us.


Changing My Details

The first payment must be collected on its due date before we can change your payment date. Please email fca.admin@PCL.co.uk to provide us with your preferred payment date.

To change your bank details please call 0344 381 9103 and provide us with your new sort code and account number.

To change your address with us please call 0344 381 9103 and provide us with your new address.


Contact Us

If you would like to speak with us via phone please call 0344 381 9103.

If you are having difficulties signing, please email us at FCA.Feefunding@pcl.co.uk or contact us on 0344 381 9103 (option 2).

If you have a complaint, please call us on 0344 381 9103. Alternately you can write to us at:
Quality Control, Premium Credit Limited, Ermyn House, Ermyn Way, Leatherhead, Surrey, KT22 8UX
We have procedures in place to handle your complaint fairly and quickly but if you are not satisfied with the outcome of your complaint, and you are not a business, then you can write to the Financial Ombudsman Service, Exchange Tower, London, E14 9SR.
If you are a business then you may still have the right to complain to the Financial Ombudsman Service. Please see their website for details: http://financial-ombudsman.org.uk/ . For those with a hearing impairment our text phone number is 01372 727 707.

To view a list of the recognised Trade Associations that qualify for the discounted transaction fee, please visit our website http://www.fca.pcl.co.uk .



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